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Analysing Comparative Statement of Profit and Loss

Depreciation ...

Question

Depreciation is charged on _____assets.

A

Fixed

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B

Floating

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C

Current

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D

Intangible

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Solution

The correct option is A Fixed
Depreciation is the permanent and continuous decrease in the book value of a depreciable fixed asset due to use, effluxion of time, obsolescence, expiration of legal rights or any other cause.

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